Economic review

China amends regulations to streamline government approvals

2017-11-30 06:09:00 (Beijing Time)         Xinhua

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China has revised regulations on administrative procedures to make it easier for businesses to gain government approval.

Three clauses in two administrative regulations have been amended relating to Chinese-foreign cooperative enterprises, and family birth attendants, according to a State Council decree signed by Premier Li Keqiang.

The new rules went into effect on Wednesday.

Over the past five years, China has created a better business environment for both domestic and overseas companies.

Through simpler approval processes, lower corporate fees and online services, the government is transforming its functions to let the market play a larger role in the economy.